Layer-2 scaling platform Polygon selected to build web 3 technology for Disney’s Accelerator program

July 17, 2022 0 Comments

Ethereum layer-2 scaling platform Polygon has been selected by the Walt Disney Co. to build Web 3 technology.

Polygon is one of six companies selected to participate in Disney’s 2022 Accelerator program, a business and development program focused on building immersive experiences through technologies like augmented reality, nonfungible tokens and artificial intelligence.

Polygon noted in a tweet that it was the only blockchain platform chosen for the program.

Two other Web3 projects were selected this year as well, including Flickplay, a Web3 application that allows users to explore NFTs via augmented reality (AR), and Lockerverse, a Web3 content platform that connects creators and brands.

Other companies include AR company Red 6, 3D virtual e-commerce company Obsess and AI-powered virtual character creation company Inworld.

Disney’s accelerator program was first unveiled in 2014, the program enables participants to receive mentorship from the Disney Accelerator Team and guidance from Disney’s own leadership team itself.

Polygon is a scaling and a Ethereum’s sidechain for building Ethereum-compatible blockchains that seek to address some of Ethereum’s significant limitations, such as network congestion and poor user experience.

Data from Defi Lama, Ethereum so far is still the primary chain for various Defi and NFT activities, with a total value locked (TVL) standing at $50.12 billion and nearly 513 different DeFi protocols using the technology.

However, the cost on the Ethereum network routinely remain high due to network congestion and market volatility.

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